Background*

Mr. Steven R. Loranger, also known as Steve, served as the Chief Executive Officer and President of Xylem Inc. from September 9, 2013 to March 17, 2014. Mr. Loranger served as the Chief Executive Officer and President of ITT Defense since June 28, 2004. Mr. Loranger served as Chairman of the Board at ITT Corporation since December 7, 2004 and also as its Chief Executive Officer and President since June 28, 2004. Mr. Loranger served as Head of Human Resources at ITT Corporation ... from July 9, 2010 to February 23, 2011. He served as an Executive Vice President and the Chief Operating Officer of Textron Inc. from November 2002 to June 2004. He oversaw Textron's Six Sigma, Integrated Supply Chain and Information Technology groups. Mr. Loranger served as the President and Chief Executive Officer of Honeywell Engines, Systems and Services from 2001 to November 2002 and President and Chief Executive Officer of Honeywell Engines and Systems from 1999 to 2001. Before 1999, Mr. Loranger served as President and Chief Executive Officer of Allied Signal Engines from 1997 to 1999 and served as President of Bendix Truck Brake Group, and Vice President of the Commercial Auxiliary Power unit, and a number of sales and program management positions at Garrett Corporation. He served as an Officer and Pilot in the United States Navy from 1975 to 1981. He serves as the Chairman of ITT Defense. He served as the Chairman Emeritus of Xylem Inc. until September 9, 2013 and has been its Director since October 31, 2011. He serves as a Director of Federal Express Corporation. He has been a Director of ITT Corporation since June 28, 2004. He served as an Independent Director of FedEx Corporation from September 2006 to September 29, 2014. He served as a Director of Exelis Inc. until May 2013. He serves as a Member of Board of Governors at Aerospace Industries Association. He serves on several community and professional boards, including the boards of the National Association of Manufacturers and the Congressional Medal of Honor Board. Mr. Loranger is a Phi Beta Kappa graduate of the University of Colorado, where he earned Bachelors and Masters Degrees in Natural Science.

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